The life insurance company, ICICI Prudential Life Insurance has named Anup Bagchi as MD and CEO for 5 years, effective June 19, 2023. He will replace NS Kannan, who will superannuate from the services of the company on the completion of tenure of his appointment on June 18, 2023.

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Anup Bagchi is presently Executive Director, ICICI Bank and non-executive director of the company. And, to ensure a seamless transition, Bagchi has been appointed Executive Director & Chief Operating Officer with effect from May 1, 2023.

Anup Bagchi has been Executive Director of ICICI Bank since February 2017 and Non-Executive Director of ICICI Prudential Life since October 2018. He heads the wholesale banking, transaction banking, markets group and proprietary trading Group. He had worked extensively in the areas of retail banking, treasury, investment banking, small scale industry, payment and settlement systems.

He is also on the board of ICICI Prudential Asset Management Company and Commerce Trade Services. Prior to this, Bagchi was the Managing Director and CEO of ICICI Securities.

Bagchi had joined the ICICI Group in 1992 and had worked in the areas of retail banking, corporate banking and treasury. He has a management degree from the Indian Institute of Management, Bangalore (Batch 1992) and an engineering degree from the Indian Institute of Technology, Kanpur (Batch 1990).

Bagchi was also a RBI’s expert committee on ‘Micro, Small and Medium Enterprises’ and of SEBI’s Committee on ‘Financial and Regulatory Technologies’ (CFRT). He was in the Executive Committee of National Securities Depository Ltd (NSDL), Advisory Committee of BSE and was Co-Chairman of FICCI’s Capital Markets Committee.

He was also the member of SEBI’s Secondary Markets Advisory Committee (SMAC), Fair Market Conduct Committee and Committee on Financial and Regulatory Technologies and Risk Management Review Committee.

Meanwhile, shares of ICICI Prudential was trading over 5 percent up at Rs 403.90 on the BSE at 11:56 am. The benchmark BSE was slightly lower by 1.36 points at Rs 57,554.54 at that time.

(Edited by : Anshul)

First Published:Mar 16, 2023 11:12 AM IST